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December 31, 2012
09:39 EDTMGLNMagellan Health says health plan customer will not renew contract
Magellan Health Services disclosed in a regulatory filing that it currently provides behavioral health management services to a commercial health plan customer pursuant to a contract with a term ending December 31, 2013. The company’s revenue pursuant to such contract for the nine months ended September 30, 2012 was approximately $144.5M. Magellan said the customer has informed the company that, after a competitive evaluation process, it has decided not to renew its contract with the company and to contract with another behavioral health management vendor. Since the contract expires on December 31, 2013, the notice by this customer that it will not renew the contract will have no effect on the company's previously issued guidance for 2013, Magellan stated.
News For MGLN From The Last 14 Days
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August 19, 2015
10:06 EDTMGLNMagellan says Iowa contracts generated six month sales of $261.9M
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August 18, 2015
07:57 EDTMGLNMagellan Iowa loss largely priced into shares, says Jefferies
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07:57 EDTMGLNMagellan says Iowa contracts generated six month sales of $261.9M
Magellan Health said last night that it provides behavioral healthcare management and other related services pursuant to contracts with the State of Iowa. The company currently has two contracts: the Iowa Medicaid Contract and Iowa Medicaid Integrated Health Home Provider Agreement. On February 16, the Iowa Department of Human Services released the Iowa High Quality Healthcare Initiative Request for Proposal. The agency originally stated that it intended to contract on a statewide basis with two to four successful bidders with a demonstrated capacity to coordinate care and provide quality outcomes for the Medicaid and Children's Health Insurance Program populations. The program will enroll the majority of the Iowa Medicaid and CHIP populations and will also provide services for individuals qualifying for Iowa Department of Public Health funded substance abuse services. The anticipated start of the contract is January 1, 2016. Magellan was notified yesterday that it was not selected as a winning bidder by the Agency for the Iowa High Quality Healthcare Initiative Request for Proposal, it disclosed in the regulatory filing. The company's existing contracts in Iowa are expected to terminate December 31, 2015 to coincide with the start date of the new initiative. Such contracts generated net revenues of $261.9M for the six months ended June 30, it stated.

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